401(k) Savings Plan

VMware’s 401(k) Savings Plan helps you set aside money for the future to help you meet your retirement goals.

Enrolling in Your 401(k)

You are immediately eligible to enroll in the VMware 401(k) Plan at 401k.com. New hires to VMware will be automatically enrolled in the plan at 6%, approximately 30 days after your hire date; Rehires, Interns, & Transfers must actively enroll to participate.

Don’t forget that if you participated in another employer’s plan during the calendar year, you will need to report your year-to-date contribution amounts to help prevent you from exceeding the IRS limits for the calendar year. To report your YTD contributions, please open a Payroll Support ticket (HelpNow).

Check out the 401(k) Highlights Video to learn about the 401(k) Plan in less than 5 minutes.


You can contribute from 1% to 90% of your eligible compensation (base salary, bonuses and commission) up to IRS limits. You can update your contributions at any time on the Fidelity website. Changes usually take 1-2 pay periods before showing up on your paycheck.

FY23 Bonus Payments & 401(k) Contributions

If you’d like to adjust contribution rates for your 401(k) in anticipation of your bonus payment, you must make contribution changes by Wednesday, April 5, 2023 at 4:00pm ET.
Please Note: Changes made to your contribution percentages will impact both your April 15 regular pay and bonus payment. We do not allow separate deferral percentages for bonus elections.
Changes should be made on Fidelity NetBenefits (Link: https://nb.fidelity.com/public/nb/401k/home) under VMware Inc. 401(k) Plan Quick Links > Contribution Amount. To change your contribution percentage after the bonus payout, visit Fidelity NetBenefits any time after April 10, 2023. Please allow 1-2 pay cycles.

The VMware Plan offers contribution options of pretax, Roth, or after-tax. Catch-up contributions may also be made on a pretax or Roth basis for those age 50 and older.

Contribution Types

Pretax Roth After-Tax Employer Match
Funds Taxed When Contributed No Yes Yes No
Contributions Taxed When Distributed Yes No1 No Yes
Earnings Taxed When Distributed Yes No1 Yes Yes

1 A distribution from a Roth 401(k) is tax‐free and penalty‐free, provided the five‐year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, or death.

2023 IRS Limits

  • Pretax & Roth: $22,500 
  • Pretax/Roth Catch-up (Age 50+): additional $7,500
  • Total IRS Contribution Limit (pretax, Roth, after-tax & employer match): $66,000 or $73,500 for catch-up eligible
  • Note: The VMware plan limits after-tax contributions to $34,500.

Employer Match

VMware provides a dollar-for-dollar match up to 6% of your eligible compensation. The quarterly maximum for the match is $2,250, up to $9,000 annually. You are immediately vested in your contribution as well as VMware’s matching contributions. In order to receive the company match, you will need to contribute via either pre-tax or Roth 401(k) contributions. After-tax & Catch-up contributions are not eligible for Company matching.

VMware will true-up eligible employees following each Plan year. In order to receive the end-of-year true-up, you must be an eligible VMware employee at the end of the Plan year (December 31).

Investment Options

The 401(k) Savings Plan offers several choices of funds, ranging from money market accounts and bond funds to growth stock funds, including a brokerage option. You may allocate your contributions in any way you want among the available investment options and change them at any time. To manage your investments, log on to the Fidelity website.

Withdrawals & Loans

You may begin taking money from the plan any time after age 59½ or when you terminate employment. If you retire, you must begin receiving money from the plan no later than the 1st of April after the year in which you reach age 70½.

You may also be eligible to initiate a loan or hardship withdrawal on your account. For more information, call Fidelity Investments at 1-800-835-5095.

Naming a Beneficiary

When you enroll in the plan, you must name a beneficiary to receive your plan account balance in the event of your death. You can update your beneficiary at any time on the Fidelity website.

For more information on VMware’s 401(k) Savings Plan, please refer to the Summary Plan Description (SPD).

Contact Us

Contact HR Source [VMware network access required]
ASK HR [VMware network access required]
Phone: 1-888-869-2738

Fidelity Investments
Phone: 1-800-835-5095
Visit website


Workday QRG: Review Your 401(k) Contributions

401(k) Plan Overview Video

401(k) Employer Match Reinstatement FAQ

401(k) Savings Plan Summary Plan Description (SPD)

401(k) Plan Highlights & FAQs

Financial Wellness Checkup

Fidelity Roth In Plan Conversion FAQ [VMware network access required]

Fidelity Savings Calculator

Discretionary Match Notice

Last Updated: 22 Mar 2023, 3:05 PM